All big companies do(did?) this - putting low salary and saying but "this is Facebook!" (real story), preying on young gullible people who think Facebook, Google or any big fish is anything worthy to be a part of.
The FAANG companies are also different in that they already generate massive revenues, so can't credibly claim they can't afford to pay good salaries.
I’ve heard from plenty of experienced people how some of these companies, especially googlee - milk you for all you’ve got while pretending to be caring and offering you competitive base pay.